Accrual Compliance is High Priority

SOX Material Weaknesses are on the rise and the impact of non-compliance is substantial

Source: Accounting Today

Impact of Non-Compliance:

Effort and cost to manage and remediate control deficiencies

Additional samples and increased audit fees
(Internal and External Audit)

More painful controls added to Accounting’s existing workload

Non-compliance requires Board attention

"When a company has material internal control issues in critical accounting processes like accruals, this quickly becomes the number one priority for the audit committee, IT and finance teams. You don't want this to be you. A small investment in advance can save a lot of trouble later."

"If material adjustments from missed accruals are reported to the Board, it would prompt me to ask Management whether we can trust other previous published financial statements"

Mitigate accrual risk and misstatements by implementing Gappify’s Accrual Cloud

“Our IT team simply partnered with Gappify to provide SOX appropriate access to our systems. From there, all my team had to do was show up for UAT meetings, map vendors to our chart of accounts, and give the green light for go-live approval. Gappify was one of the easiest software setups I’ve ever completed.”

Ethan Don

Senior Accounting Manager, GoodRx

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Mitigate accrual risk and misstatements by implementing Gappify’s Accrual Cloud

Ethan Don

Senior Accounting Manager, GoodRx

About Gappify

Gappify, founded in 2016, is a cloud-based provider of accrual automation solutions for mid-market and enterprise accounting teams. The company is headquartered in New York City, with offices in Berkeley, California, Washington DC, and Manila, Philippines.

Its team consists of accountants and CPA’s from Big Four accounting firms and software innovators. Gappify is also supported by strategic advisors from some of the world’s most recognized technology companies and is affiliated with the top companies & accounting organizations.